How to PRICE Your Corporate Yoga Business
May 17, 2022
⭐️ Tuesday Tip of the Week ⭐️
Are you unsure of how to price your corporate yoga classes? Here is a super quick guide:
My pricing to my clients:
$ 90 for 30 minute weekly class
$ 110 for a 45 minute weekly class
Now some of you might be stating that is not enough or that is too much. Allow me to address both:
- I have clients I coach on expanding their corporate yoga business, in various parts of the country that charge quite a bit more than this based upon their market, business and clients.
- I have clients I coach on expanding their corporate yoga business in various parts of the country that have a difficult time asking for this amount or even having this conversation. If you resonate with these folks here are some tips:
- You need to be paid more than what you would be paid in a studio because you are doing SO much more (all the business details).
- You need to be paid a sustainable hourly rate so that if you need to place a sub, there is money for your sub, plus some left over for you (ideally 40-50 %) because you are still doing all the business details.
- Your pricing needs to be sustainable over all so that you can stay in business. You owe it to your clients and future clients to be able to stay in business, take planned vacations, take unplanned days off and all without burning yourself out. (Which you'll do if you are not charging a sustainable rate.)
I'd like to reverse this on you as well. If you charge too little, say just $50 for the hour, many business clients may not even take you seriously.
Recently I had a yoga teacher in one of our coaching sessions state she was having a really tough time valuing herself and was scared to have these conversations.
Here is some advice for you:
- Work daily with an affirmation that feels good: I am valuable.
- Talk to existing yoga clients that you trust and ask them for feedback, testimonials and recommendations. Hearing them describe your talent in detail will help you to understand the value you are bringing to the business landscape.
- I know you must know at least one business owner or decision maker that is a close friend or family member. Ask them for a favor to have a "mock appointment" with you to practice talking about pricing.
- When in absolute doubt, put it back on your client and just be honest (this was how I learned when I started). Simply ask them the pricing they had in mind for this.
In my 20 hour course I have a whole module on pricing and share pricing strategy and tips, for a little over an hour, to cover yoga events, yoga workshops, yoga series, and one-off classes. I discuss additional services you should charge for, as well as how to talk about pricing in a collaborative, never "salesy" way.
The course is open now until June 1st. Register here.
To your success,
Shawn
PS: Are you on Instagram? Join me this Wednesday the 18th at 11am for 4 FREE BONUS tips, @corporateyogateacherresources!
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